Global Market for Sporting Goods to Reach US$303 Billion by 2015, According to New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global outlook on Sporting Goods Industry. Commercialization of sports as a marketable commodity, growing media coverage of sporting events, favorable demographics and convergence of casual and athletic product designs are expected to drive market prospects for sporting goods over the next few years. Growing demand from emerging markets, especially Asia-Pacific also augurs well for the future of sporting goods industry.

Sporting Goods: A Global Outlook

San Jose, California (PRWEB)February 02, 2012

Follow us on LinkedIn – Commercial concerns have changed the face and character of sports from being an innocuous small-time interest into a complex big-time industry. Increasing media exposure to sporting events is helping boost popularity of sports among the masses, particularly children and young adults. Live online coverage of sporting events on television and Internet is capturing the attention of children and young adults who spend more time web browsing or channel surfing than any other demographic group. Increased media exposure to sporting events encourages children and young adults to play for fun or even take up sports as a full-time career, which directly impacts sales of sporting goods in general and sports apparel in particular. Traditionally, a male dominated arena, international sports and sporting events is attracting lot of women participation in recent years. The trend is particularly evident in organized sports such as such as tennis, badminton and basketball. The increase in number of young women taking up sports across the globe is also contributing to the demand for sports apparel and other sporting goods.

A noteworthy trend in the sporting goods industry is the convergence of casual design and athletic design trends. Youth, the most important consumer cluster for sporting goods, are increasingly adopting sports apparel and footwear as casual wear, thereby boosting market prospects for sporting goods even in the casual wear segment. Most of the youngsters try to imitate their sporting idols and purchase same brand and design of apparel or footwear that their favorite sport celebrities use or endorse, for their off-field use, thereby driving demand in the market.

Although Europe and the US have been the traditional revenue contributors in the global sporting goods industry, developing regions such as Asia-Pacific and Latin America will drive future gains, thanks to growing awareness about international brands, coupled with rising standards of living to complement inspirational purchases. With demand reaching saturation in developed markets, much of the industry focus is now shifting to Asia-Pacific, Central & Eastern Europe, and Middle East countries. Asia-Pacific especially is fast emerging as a major sporting hub in the world with growing participation in sports in the region. The region is already the fastest growing market for sporting goods worldwide, thanks to growing consumption in emerging markets such as China and India. Hosting several international sporting events and domestic tournaments, China especially is the most prominent regional market for sporting goods in Asia. Other developing economies in the region such as Singapore, Malaysia, Vietnam, Korea, and Indonesia, are also contributing significantly to the growth in demand for sporting goods in the region.

The research report titled “Sporting Goods: A Global Outlook” announced by Global Industry Analysts, Inc., provides a collection of statistical anecdotes, market briefs, and concise summaries of research findings. The report offers a rudimentary overview of the industry, highlights latest trends in the sporting goods market, and demand drivers, in addition to providing statistical insights. Regional markets briefly abstracted and covered include United States, Canada, Japan, Europe (France, Germany, Italy, the United Kingdom and Russia among others) Asia-Pacific (China, Hong Kong, India, Indonesia, Taiwan, Australia and New Zealand among others) and Latin America. The report offers a compilation of recent mergers, acquisitions, and strategic corporate developments. Also included is an indexed, easy-to-refer, fact-finder directory listing the addresses, and contact details of companies worldwide.

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.